Business
Nicola Mining Inc. Plans 1,500 m Drill Program at the Thule Property
(via Thenewswire.ca) VANCOUVER, B.C. / TheNewswire / March 3 , 2016 - Nicola M...
About this update from Nicola Mining Inc.
[{"type":"text","content":"Nicola Mining Inc. Plans 1,500 m Drill Program at the Thule Property(via Thenewswire.ca)\n \n \nVANCOUVER, B.C. / TheNewswire / March 3, 2016 - Nicola Mining Inc. (the \"Company\" or \"Nicola\") is pleased to announce the submission of a Notice of Work for the 2016 Thule Property drill program. Drilling will focus on at least 2 known historic zones, the Embayment Block and the WP trenches zones. Nicola plans a 1,000 to 1,500m NQ sized diamond drill program to commence this summer.\n\n\n \n\nThe Embayment Block was last drill tested by Christopher James Gold Corp in 2005. Three diamond drill holes (AB-1, AB-2, and AB-3) attempted to test the zone. One of the holes, AB-2, reached a depth of 159.4 metres and was believed to be close to the mineralized zone encountered in previous drill holes in the area. 20 feet of HW casing was left behind in the hole for future entry. Nicola Mining Inc. plans on re-entering AB-2. The drill hole is expected to be drilled to a depth of approximately 500 metres. \n\n\n \nPrevious drilling, undertaken while the mine was in production, produced intersections of 490 feet of 0.41% Cu; 184 feet of 0.88% Cu; and 30 feet of 2.56% Cu. These values were reported prior to NI 43-101 standards.\n\n\n \nThe WP trenches/Marb 72 zone was last actively explored by Torwest Resources in Limited the 1960's. Previous work consisted of detailed mapping, soil sampling, magnetometer surveys and trenching. The zone was picked out by the 2012 aeromagnetic survey as a potassic high anomaly. The 2015 Exploration Program consisted of the collection of rock grab samples within the 500-metre-long trenching corridor. Mineralized structures in the zone trend north to northwest and consist of fracture controlled malachite and chalcopyrite with epidote, biotite, orthoclase feldspar, and carbonate alteration. 5 samples collected in 2015 from the trenches returned elevated copper values with the following highlights: \n\n\n \n\n\n-130515-THU-004 returning 5290 ppm Cu and 5.6 ppm Ag, \n\n\n\n-130515-THU-005 returning 6830 ppm Cu, \n\n\n\n-130515-THU-006 returning 5760 ppm Cu, \n\n\n\n-240515-THU-002 returning 3600 ppm Cu\n\n\n\n-240515-THU-003 returning 1340 ppm Cu. \n\n\n\n\n \nApproximately 2 holes between 100-300 metres will test the WP structure.\n\n\n \nAdditional drilling is being considered at the historic Titan Queen, Marb, and...